List Three of the Five Interrelated Components of the Internal

question 65

Essay

List three of the five interrelated components of the internal control framework established by The Committee of Sponsoring Organizations of the Treadway Commission (COS0)that serve as the standards for Sarbanes-Oxley compliance.

Recognize the problems and solutions associated with password security.

Understand the vulnerabilities associated with the Internet of Things and their implications.

Identify different strategies for managing information security risks.

Recognize the role of external audits in information security.

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Definitions:

Operating Income

A measure of a company's profitability that excludes non-operating income and expenses, focusing on core business activities.

Fixed Costs

Expenses that remain constant regardless of the business's production or sales activity, including insurance and lease payments.

Variable Cost

Expenses that vary directly with the production output, including costs of raw materials and direct labor.

Selling Price

The amount of money for which a product or service is sold to customers.